RiverWood Bank in Baxter, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • RiverWood Bank in Baxter, Minnesota (MN)
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RiverWood Bank - Overview

  • General
  • FDIC Certificate #: 31063
    Status: Active
    Federal Reserve ID: 757676
    Date Established: January 01, 1922
    WWW: http://www.riverwoodbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 6326
    FDIC's unique #: 43897
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 12, 1958
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 14091 Baxter Drive, Ste. 117, Baxter, MN 56425
    County: Crow Wing
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Fargo
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Brainerd, MN (#14660)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $162.3 mil
    Equity capital: $16.1 mil
    Deposits held in domestic offices: $128.6 mil
    Return on assets (ROA): -1.52% (-$2.5 mil)
    Quarterly return on assets: 0.21% ($0.3 mil)
    Return on Equity (ROE): -14.37% (-$2.3 mil)
    Quarterly return on equity: 2.09% ($0.3 mil)
    Net income: -$2.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: -1.87% (-$3,035.4 mil)
    Quarterly Pretax return on assets: 0.33% ($535.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 49Total employees (full-time equivalent)
  • $162,319Total assets
  • $24,123Cash and due from depository institutions
  • $19,074Interest-bearing balances
  • $3,823Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $113,311Net loans & leases
  • $2,184Loan loss allowance
  • $0Trading account assets
  • $6,604Bank premises and fixed assets
  • $6,994Other real estate owned
  • $343Goodwill and other intangibles
  • $162,319Life insurance assets
  • $7,121All other assets
  • $146,197Total liabilities and capital
  • $128,598Total liabilities
  • $96,970Total deposits
  • $128,598Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 98.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $16,825Trading liabilities
  • $0Other borrowed funds
  • $676Subordinated debt
  • $16,122All other liabilities
  • $16,122Total equity capital
  • $16,122Total bank equity capital
  • $0Perpetual preferred stock
  • $137Common stock
  • $21,340Surplus
  • $-5,355Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,106Income earned, not collected on loans
  • $268Earning assets
  • $978Long-term assets (5+ years)
  • $136,208Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $162,320Volatile liabilities
  • $161,806Insider loans
  • $123,246FHLB advances
  • $159,930Loans and leases held for sale
  • $2,784Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $13,777Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $30,113Restructured Loans and leases
  • $3,384Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,131Total interest income
  • $1,717Total interest expense
  • $5,414Net interest income
  • $925Provision for loan and lease losses
  • $1,027Total noninterest income
  • $0Fiduciary activities
  • $208Service charges on deposit accounts
  • $0Trading account gains & fees
  • $819Additional noninterest income
  • $8,551Total noninterest expense
  • $3,090Salaries and employee benefits
  • $1,392Premises and equipment expense
  • $4,069Additional noninterest expense
  • -$3,035Pre-tax net operating income
  • $0Securities gains (losses)
  • -$570Applicable income taxes
  • -$2,465Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,465Net income attributable to bank
  • $0Net charge-offs
  • -$2,465Cash dividends
  • $1,758Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.26%Yield on earning assets
  • 1.27%Cost of funding earning assets
  • 4.00%Net interest margin
  • 0.76%Noninterest income to earning assets
  • 6.31%Noninterest expense to earning assets
  • -1.52%Net operating income to assets
  • -1.52%Return on assets (ROA)
  • -1.87%Pretax return on assets
  • -14.37%Return on equity (ROE)
  • -14.37%Retained earnings to average equity (YTD only)
  • 1.46%Net charge-offs to loans
  • 52.62%Credit loss provision to net charge-offs
  • -1.20%Efficiency ratio
  • 106,412Assets per employee
  • 3.31%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.89%Loss allowance to noncurrent loans
  • 23.98%Noncurrent assets plus other real estate owned to assets
  • 9.92%Noncurrent loans to loans
  • 7.88%Net loans and leases to deposits
  • 88.11%Net loans and leases to core deposits
  • 92.03%Equity capital to assets
  • 9.93%Core capital (leverage) ratio
  • 8.61%Tier 1 risk-based capital ratio
  • 11.18%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $162,320Average earning assets
  • $17,156Average equity
  • $135,443Average loans

List of branches

  • 8 Minnesota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    043897Riverwood Bank14091 Baxter Drive, Ste. 117, Baxter, MN 56425January 01, 1922Full Service Brick and Mortar
    12833421329 Pacific Ave Branch1329 Pacific Avenue, Benson, MN 56215January 01, 1922Full Service Brick and Mortar
    2283343214 N Fifth St Branch214 North Fifth Street, Breckenridge, MN 56520January 01, 1922Full Service Brick and Mortar
    3441349Morris Branch532 Atlantic Avenue, Morris, MN 56267March 22, 2005Full Service Brick and Mortar
    4441350Big Lake Branch240 Jefferson Boulevard, Big Lake, MN 55309June 05, 2000Full Service Brick and Mortar
    5441366Crosslake Branch36139 County Rd 66, Crosslake, MN 56442January 02, 2004Full Service Brick and Mortar
    6492457Baxter Branch14633 Edgewood Drive, Baxter, MN 56425October 17, 2007Full Service Brick and Mortar
    7519375Monticello Office1421 E 7th St, Monticello, MN 55362November 06, 2008Full Service Brick and Mortar

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